October has produced yet another mild stone for the Greater Dunedin market, the median sale price continues to set new records with the Median now sitting at $675,000 this is a rise of 20.5% in comparison to the $560,000 from Oct 2020.
The buoyant market has shown little signs of cooling off but with the new round of Banking pressures due in December these could see money abit harder to obtain and take longer for many bank approvals including Mortgage top ups.
Currently property numbers being advertised on Realestate.co.nz sit at 422, there is certainly a lift in available properties for viewing and this may be giving buyers more options, but once again competitively priced and well-presented homes that have a planned marketing strategy are still catching the cream of the buyers.
The Median days to sell are sitting at 28 days down from the 37 days of last month and the number of sales in October were at 153 which is very consistent with the past 6 months results and could again be a reflection of the stock levels that have been available during the past few months plus buyer restrictions imposed by the Reserve bank.
End of the year is fast approaching, but still, it’s a very popular time for property ownership to change hands, so if you would like to discuss your next real estate move then touch base with one of our experienced team members.